The Effect of Human Resource Management Practices on Farm Profitability: An Initial Assessment

Jeffrey Hyde (), Richard Stup () and Lisa Holden ()
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Jeffrey Hyde: The Pennsylvania State University
Richard Stup: Ag Choice Farm Credit
Lisa Holden: The Pennsylvania State University

Economics Bulletin, 2008, vol. 17, issue 12, pages 1-10

Abstract: Sound human resource management practices such as performance bonuses, performance reviews and feedback, and standard operating procedures allow farm managers to improve the human capital, and profitability, on the farm. To date, no research of the impact of HRM practices on farm profitability has been published. This article provides a theoretical justification for analyzing the impacts of HRM practices on firm profitability. This model assumes that HRM practices are labor-augmenting technologies, causing existing labor to be more efficient in production. Empirical results provide little support for a positive relationship between HRM practices and farm profitability, although additional research is suggested.

Keywords: dairy farms; farm profitability; human resource management (search for similar items in EconPapers)
JEL-codes: Q0 (search for similar items in EconPapers)
Date: 2008-07-15
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